It is impossible to enjoy idling thoroughly unless one has plenty of work to do. There is no fun in doing nothing when you have nothing to do. Wasting time is merely an occupation then, and a most exhausting one. Idleness, like kisses, to be sweet must be stolen. - Jerome K. Jerome

Wednesday, November 12, 2008

Far from being the solution, the government is the problem, yet again. While government-guaranteed student loans have expanded college access, any economist worth his salt will tell you that by flooding the college market with loans that anyone can get and that are guaranteed by the government has led to tuition well outpacing inflation. What else could have caused this?

If this sounds really familiar, it should. Fannie Mae and Freddie Mac had a similar effect on the housing bubble. So you'll have to excuse me if I get frightened when I hear "government to the rescue" for a problem it helped create.